The amount of tax potentially underpaid by big businesses by shifting profits to other jurisdictions has increased by 60 percent in the last year, to GBP3.8bn (USD4.8bn), according to figures obtained by international law firm Pinsent Masons.

The UK's First-tier Tax Tribunal has ruled against HM Revenue and Customs's current policy on the recovery of value-added tax (VAT) incurred on professional fees during a management buyout.

The Chartered Institute of Taxation (CIOT) has welcomed support from the UK's Office of Tax Simplification (OTS) for its recommendation that National Insurance contributions (NICs) and income tax should be more closely aligned.

The UK tax authority, HM Revenue and Customs, has released a new Brief (16 of 2016) on the treatment of value-added tax (VAT) incurred on assets that are used by a business prior to VAT registration.

The Financial Reporting Council in the UK has welcomed improvements in the transparency of tax disclosures by the UK's largest companies, but said there is room for companies to better articulate how they account for tax uncertainties.

The latest edition of the World Bank's Doing Business report shows that there has been a steady improvement in regulatory efficiency around the world over the last ten years, including in the area of taxation.

The UK tax gap fell in 2014–2015 to its lowest-ever level of 6.5 percent, official statistics released on October 20 show.

A new corporate offense for failing to prevent tax evasion is expected to get its first reading in parliament this week, says Pinsent Masons, the international law firm.

Some 15% of banks and 14% of financial market institutions interviewed intend to implement full-scale, commercial blockchain solutions in 2017

Amber Rudd was once the director of two companies based in the offshore tax haven of Bahamas, leaked documents have revealed. The Home Secretary was a director of Advanced Asset Allocation Management and Bahamian firms Advanced Asset Allocation Fund between 1998 and 2000.